Arrowpoint Investment Partners Singapore Pte. Ltd. Takes Position in Starbucks Corporation (NASDAQ:SBUX)

Key Points

• Arrowpoint Investment Partners Singapore Pte. Ltd. purchased 4,920 shares of Starbucks Corporation, valued at approximately $483,000, indicating growing institutional interest in the coffee company.
• Starbucks reported mixed earnings results, with earnings per share of $0.50 for the last quarter, missing analyst estimates, but with revenue increasing 3.8% year-over-year.
• The company announced a quarterly dividend of $0.61, marking an annualized yield of 2.7%, despite a dividend payout ratio exceeding 100%.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Starbucks Corporation (NASDAQ:SBUX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,920 shares of the coffee company's stock, valued at approximately $483,000.

Other institutional investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company's stock worth $16,126,000 after purchasing an additional 81,952 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Starbucks by 6.2% during the 4th quarter. Federated Hermes Inc. now owns 5,325 shares of the coffee company's stock worth $486,000 after purchasing an additional 311 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Starbucks during the 4th quarter worth about $728,000. SageView Advisory Group LLC boosted its position in shares of Starbucks by 4.2% during the 4th quarter. SageView Advisory Group LLC now owns 11,814 shares of the coffee company's stock worth $1,078,000 after purchasing an additional 471 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its position in shares of Starbucks by 2.0% during the 4th quarter. CreativeOne Wealth LLC now owns 10,156 shares of the coffee company's stock worth $927,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 72.29% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research analyst reports. CICC Research started coverage on shares of Starbucks in a research report on Monday, June 30th. They set an "outperform" rating and a $100.00 price objective on the stock. TD Cowen raised their price target on shares of Starbucks from $90.00 to $95.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and raised their price target for the company from $100.00 to $115.00 in a research report on Tuesday. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Finally, Loop Capital set a $165.00 price target on shares of Starbucks in a research report on Tuesday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.19.

Starbucks Stock Performance

Starbucks stock traded up $0.81 during mid-day trading on Wednesday, reaching $94.18. The company's stock had a trading volume of 6,490,754 shares, compared to its average volume of 11,890,718. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The company has a market capitalization of $107.05 billion, a P/E ratio of 40.60, a PEG ratio of 5.32 and a beta of 1.02. The firm's fifty day moving average price is $92.65 and its two-hundred day moving average price is $94.31.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The coffee company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). Starbucks had a net margin of 7.18% and a negative return on equity of 36.23%. The business had revenue of $9.46 billion during the quarter, compared to analysts' expectations of $9.29 billion. During the same quarter in the prior year, the firm posted $0.93 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, August 15th. Starbucks's payout ratio is 105.17%.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.